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1 Ing-Haw Cheng Assistant Professor of Finance University of Michigan 701 Tappan Street, Room R5466 Ann Arbor, Michigan webuser.bus.umich.edu/ingcheng Financial Management FIN 300, Sections 004, 005 Fall 2011 University of Michigan, Ross School of Business Purpose Finance 300 is designed to familiarize students with the basic tools and concepts of Finance, and to enable students to pursue additional courses in investments, corporate finance, capital markets, and financial institutions. Topics will include the time value of money, the valuation of riskless and risky assets, market efficiency, corporate investment decision making, capital structure decisions, and risk management. Instructor Name: Ing-Haw Cheng Office: R5466 Phone: Office Hours: Mondays, 5-6PM, Location TBA (Posted on ctools) Tutor Hours: Office hours will be held by tutors. Hours, Location TBA (Posted on ctools) Class website: Course Materials Textbook: Fundamentals of Corporate Finance, Ross, Westerfield, and Jordan, Alternate 9th Edition. We have a special deal with the bookstores for a combination of the textbook plus an access code for the online homework system (Connect) at a reduced price. If you wish to purchase the book by itself, the ISBN number for just the book (i.e., without the access code) is ; however, you will still need the online access code for the class. Other materials: The TI-BA II Plus Financial Calculator is optional for this course. Some of its functions will be helpful for certain calculations, and we will be reviewing some of these functions in class. You may choose to use your own calculator, such as a graphing calculator, but you will still be responsible for the actual calculations. Any supplemental materials will be posted on CTools.

2 Evaluation Your course grade will be weighted as follows: Homework: 15% Midterm: 30% Final: 45% Class & Discussion Participation: 10% The grading policy at Ross mandates < 40% at A- or above, < 80% at B or above, and > 20% at B- or below for this class. Consistent with this policy, the class will be curved along the following distribution: A+ 5% A 15% A- 20% B+ 25% B 15% B- or below 20% A strict ranking of students will determine the final grades. Student rankings are across all students in all sections, per instructor. Homework There will be (approximately) weekly homework assignments submitted via McGraw-Hill s online homework manager. Three important notes about homework. 1. Late homework is not accepted: the webpage for each assignment will be closed prior to the class-time on its due day and you will receive zero on the homework if you cannot finish it before the website is closed. 2. The flip side of this is that your lowest homework grade will be dropped. Thus one of the homework assignments is free and you can skip it if you choose. However, we don t encourage this since the homework assignments are good preparation for the exams. 3. Homework must be submitted individually, but we encourage you to form study groups and discuss the problems with your fellow classmates.

3 Exams Midterm: October 20 (in-class) Final: Friday, December 16 th, 8AM-10AM Conflict Exam Time: Friday, December 16 th, 10:30AM-12:30PM A few notes about exam scheduling: 1. Midterm: There will be no makeup midterm. If you miss the midterm because of a well-documented emergency (e.g., serious illness with a doctor s note, family emergency), the weight on the midterm will be shifted to the final. Otherwise, missing the midterm is equivalent to getting a grade of zero for it. Note the midterm is in class. 2. Final: The final exam schedule is set by the University. In accordance with RSB policy, you can request to take the final in a Conflict Exam Time if (1) you have four examinations in one day, or (2) you have a conflict with a religious holiday (see If you have a welldocumented emergency (e.g., serious illness, family emergency) such that you cannot make either scheduled time, please raise this with us as soon as possible. 3. Exam Hours: Please note that in-class exams ARE on Michigan time but the final exam is at the time stated. 4. Recruiting Activities: Note that it is RSB policy to not consider recruiting activities as an excuse for a missed exam. You will be allowed to bring one 8-1/2" x 11" sheet of paper (two for the final) with notes and formulas (both sides are ok) on it. The paper must be handwritten, not photocopied or from a computer print-out, and handed in along with the exam. You will be allowed to bring two calculators to use for the exams. All exams must be completed individually. Class Attendance and Participation Allocation of participation points is at the discretion of the instructor. Factors that influence the participation portion of your grade include attendance, promptness, and participation in class discussion. If you cannot attend class, please inform us as soon as possible. Sign-in sheets will be passed around at the beginning of each class. Laptop and Mobile Phone Policy Sorry, no cell phone usage or laptops in class; this includes texting. Please turn them off before class begins.

5 should also familiarize themselves with the Code as they will be subject to the Ross Code while in this course. Students with Disabilities If you need an accommodation for a disability, please let me know at your earliest convenience. Some aspects of the course, the assignments, and the in-class activities may be modified to facilitate your participation and progress. As soon as you make me aware of your needs, we can work with the Office of Services for Students with Disabilities to help us determine appropriate accommodations. I will treat information you provide as private and confidential.

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